Business
Pakistan Business Forum opposes unconstitutional curbs, seeks simplified tax return
字号+ Author:Smart News Source:Business 2025-01-09 04:21:36 I want to comment(0)
ISLAMABAD: The Pakistan Business Forum (PBF) has opposed public facilities to ineligible citizens for not filing tax returns, saying the proposed law appeared to be against fundamental rights enshrined in the constitution. In a statement, the PBF — a non-profit association of country-wide trade and industry — instead proposed that tax returns should be simplified to a one-pager as was the case in many other developing and advanced countries because cumbersome tax return forms were one of the key reasons behind poor tax compliance. It demanded that the proposed tax bill be viewed in the context of the constitution and that the federal government restructure the Federal Board of Revenue (FBR) and increase the use of technology. Under the , the authorities are seeking restrictions on purchasing immovable property and vehicles beyond certain limits without justifiable tax-compliant resources and assets to broaden the tax base. The government “should introduce a new, simple, and easy-to-use one-page tax return form. Before passing new tax laws, efforts should be made to ease the process of filing tax returns”, it said, adding that the category of non-filers was also a creation of the government’s own making. PBF Vice-President Ahmad Jawad stated that the forum is submitting a draft of a simplified tax return to the government. He highlighted that the complex tax filing system is a key reason for the stagnant growth in tax filers. Moreover, the tax reforms and the strengthening of the currency should be part of the five-year “Uraan Pakistan” programme, the PBF said, adding that granting broad powers to tax authorities to enforce the proposed new tax laws would lead to increased public unrest. The PBF suggested that economic growth would accelerate if all stakeholders agreed on four or five key issues, including the . Advising the government to focus on agriculture sector growth, the PBF said the country’s gross domestic product (GDP) growth rate would reach 8pc only when agriculture growth contributes 5pc to the economy. It said 2024 was a challenging year for the business community and the public, given high electricity bills and interest rates. Hence, the government should announce a clear and actionable economic roadmap for 2025 to ease these challenges. “Pakistan is no longer a business-friendly country”, said the statement, calling for a collective approach to address these issues. It pointed out that despite the second IMF programme in quick succession, the rupee had failed to strengthen, and the government must take immediate and decisive actions to stabilise the currency. “Without strengthening the rupee, efforts to reduce financial pressures will remain ineffective.”
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